PEPE Slips 6% as Whales Load Up, Technicals Hint at Possible Bounce Amid Market Jitters
2025-07-04 12:22:47
Main Idea
PEPE (PEP) memecoin dropped nearly 6% in 24 hours amid high volatility, but large holders increased their positions by over 5% in the past month, accumulating tokens worth around $3 billion.
Key Points
1. PEPE's price fluctuated within a 16.5% range, highlighting its volatility amid low trading volumes.
2. Large addresses increased their PEPE holdings by over 5% in the past month, now holding tokens valued at approximately $3 billion (over 70% of PEPE's supply).
3. PEPE's total supply on exchanges fell to a two-year low of roughly 247.2 trillion tokens, a nearly 3% decrease since early July.
4. The coin faced resistance near $0.0000106 but found support around $0.00000965, preventing further declines.
5. A surge in trading volume helped modestly lift prices, suggesting potential for a rebound.
Description
The frog-themed memecoin PEPE (PEP) slid nearly 6% over the 24 hours, as Trump’s reciprocal tariffs deadline sent ripples through the cryptocurrency market and exposed the token’s volatility. PEPE’s price swung across a 16.5% trading range, underscoring how fast sentiment can flip in a market increasingly sensitive to geopolitical and macroeconomic signals when trading volumes drop. Behind the price drop, however, large addresses appear unfazed. Data from blockchain analytics firm Nansen shows w...
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